Downtown Digest

AQuarterlyUpdate onDowntownAtlantaActivity DOWNTOWN DIGEST

Downtown Driver: Investments

More than $449 million of public and private investment was made in Downtown in 2016. An additional $4.4 billion is under construction or is planned to be completed by 2020, for a total of $4.8 billion in redevelopment. According to CAP, this includes: 447,000 square feet of retail; 2,059 student beds; 372,790 square feet of office space; more than 3.1 million square feet of institutional square footage; 5,662 housing units; and 2,528 hotel rooms. Below is a look at some of the redevelopments and renovations taking place downtown, the majority of which includes office space. • Invest Atlanta announced in December that the vacant former Butler Street YMCA building will receive the first grant, totaling $1 million, from the Resurgens Fund. The building will be transformed into the Sweet Auburn Ballroom , a 1,200-person live music venue. • The Hub is the renovation of 5,200-square-foot vacant commercial building at 340 Auburn Avenue into a mixed-use project focused on the non-profit community. The project was recently awarded funds from the Eastside Tax Allocation District (ETAD). • Proposals for the purchase and redevelopment of 143 Alabama, the site of the old Atlanta Journal-Constitution building , were solicited earlier this year. Invest Atlanta is currently evaluating responses and will select a buyer later this year. Preliminary plans envision the building with a significant office use. • At The Hurt Building , a $5 million renovation is underway, which includes a new Starbucks and plans for a renovated lobby, a new fitness center, and technology upgrades throughout the building. • Peachtree Center is planning large scale renovations to both indoor and outdoor common spaces. Plans include an overhaul and redesign of the main courtyard, with an infusion of light and an incorporation of technology. Architectural enhancements and infrastructure improvements are also slated to begin this summer.

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